Bitcoin’s Future

Let’s take a deeper look at Satoshi Nakamoto’s creation. Is Bitcoin a get rich quick scheme? Or is the current FIat system a get poor slowly scheme? Please Like, Share, & Subscribe Follow on Twitter: @AustrianMarkets Song: Teams vs. Star Slinger – Close to me Like on FB: https://www.facebook.com/Austrian-Markets-872105049547310/?ref=hl

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20 COMMENTS

"If Bitcoin becomes too expensive, miners could move to competitors" No, miners will reap the benefits of higher priced Bitcoin when thy sell them to pay for overhead. Higher priced Bitcoin is not a bug, it's a feature. You may want to edit that portion of this presentation. Otherwise, well done.﻿

Bitcoin works if you believe the world will forever continue to look and act like the world that has existed for the past 50 years. Anyone can see, it will not. As a tiny prepper, the first thing I think about is the power grid. (Those that would stand up now and hiss, and throw tomatoes at me yelling "paranoid" or "conspiracy theorist" are not recognizing the "way" this world is going.) Cyber attack alone could take down the grid for weeks. A certain terrorist attack, months. A Carington type solar flare…. YEARS. Have the power go out for just 20 days and see how much you think putting your life's labor into Bitcoin was a good idea. Oh, and in the video did I hear "Government's can't touch it?" If Bitcoin becomes real threat they can destroy Bitcoin with a few passes of a pen. How hard would it be to make Bitcoin transactions illegal? That's a bit harder then sending around 20,000 soldiers to confiscate gold, door to door.﻿

bitcoin is a joke, the vast majority of this useless currency is held in the hands of a few early adopters. The only people making money on are those who hype up the value and sell to the gullible before the bubble pops again. They condemn real money while literally selling you nothing for the real money they condemn. You're smarter than this people.﻿

I feel like a lot of bitcoin media comes with heavy-handed dogma and a blind eye to any criticism. This video on the other hand is a breath of fresh air because it is both informative and critical. Thanks for posting.﻿

Bitcoin works if you believe the world will forever continue to look and act like the world that has existed for the past 50 years. Anyone can see, it will not. As a tiny prepper, the first thing I think about is the power grid. (Those that would stand up now and hiss, and throw tomatoes at me yelling "paranoid" or "conspiracy theorist" are not recognizing the "way" this world is going.) Cyber attack alone could take down the grid for weeks. A certain terrorist attack, months. A Carington type solar flare…. YEARS. Have the power go out for just 20 days and see how much you think putting your life's labor into Bitcoin was a good idea. Oh, and in the video did I hear "Government's can't touch it?" If Bitcoin becomes real threat they can destroy Bitcoin with a few passes of a pen. How hard would it be to make Bitcoin transactions illegal? That's a bit harder then sending around 20,000 soldiers to confiscate gold, door to door.﻿

The video starts good, until it states alternative cryptocurrencies use the same hashing algorithm, miners could switch to those alternative if Bitcoin mining becomes too expensive and Bitcoin doesn't have intrinsic value. Those statements are all false.﻿